Professional Services

This category of expenses is what you pay your accountant, attorney, and other outside services you may occasionally use.

Now, don't worry, I am not going to tell you to change your accountant or your attorney tomorrow, but there is something that you must realize.

Your accountant and attorney know that it is not easy for you to go to someone else. Most of them are honest professionals and hopefully charge you fair fees. But there are a few who charge you based on what "you make" rather than on the value of their service.

What you need to do is maintain a professional relationship with them and always let them know that you are keeping your options open. They should understand that you are not afraid to go to another professional if you feel you are not treated fairly.

What is fair? Once in a while, check what others charge. Do not ask your dentist friend, but ask people with other professions. What an accountant charges you for an hour of work should not be any more that what he charges your assistant or a bank clerk.

The same thing applies to you too, doesn't it? You wouldn't charge your patients differently based on their occupation or income, would you?

You should expect no less from any other professional. If you feel you are overcharged, talk to your accountant or attorney and explain what you expect, in a professional manner. If they are not open to the idea of reviewing their fees, then you should seriously think about switching to another professional.

Professional fees can easily add up to $20,000 a year, therefore saving on them can make a notable difference.